Business Standard

The severity of India's economic crisis is evident when quantified

The real growth in average incomes is slower than that in consumption and investments, and the nominal growth in company tax collection is slower than growth in nominal incomes, data shows

Auto manufacturing
Premium

Representative image

Abhishek Waghmare Pune
The Indian economy took a body blow in the ongoing Covid-19 pandemic. The crisis has now made way for recovery, and India was not alone in facing it. 

However, one thing sets India apart from most emerging peers and advanced economies: The fact that the country was undergoing a severe economic slump even before the pandemic. Much has been talked about the slowdown, and how it followed demonetisation and GST implementation. 

Here, we divided the last two decades and a few more years in four-year chunks to see how incomes, consumption, investments and tax collection has grown over the period. 

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in